NYC Department of Finance: How to access and submit your ...

NYC Department of Finance: How to access and submit your Development's Cooperative and Condominium Property Tax Abatement Renewal

& Change Form Online

Guide to Completing the Electronic Change Form

Rev. 8/27/18

COOPERATIVE CONDOMINIUM Electronic - Property Tax Abatement Renewal and Change Form Table of Contents

1. Eligibility to receive the Cooperative Condominium Property Tax Abatement 2. Creating an Online account to submit CCA Property Tax Abatement Renewal and Change Form 3. Submitting Managing Agreement/ Contract to use the Online Filing system 4. Submitting First Time Abatement Application 5. Renewal Option ? No Ownership Changes 6. Attestation & Development Information 7. Unit Information ? using the electronic benefit breakdown report to enter changes 8. Appendix - samples of benefit breakdown reports for Coops and Condos

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Welcome to the Electronic ? Property Tax Abatement Renewal & Change Form

Submission Deadline: February 15th

In order to begin your filing you must first create an account. Visit the Department of Finance webpage to access the electronic change forms at: finance. The next step is to create a unique user ID and password. Use a valid e-mail address to receive confirmation of your submission. Save your User ID and password for future access to the Electronic Cooperative & Condominium Tax Abatement Renewal & Change Form. If DOF does not have a Managing Agreement/ Contract on record, you must submit one. The system will not allow you to enter into Developments unless you are the Managing Company with DOF. You can submit the Managing Agreement/ Contract using the online filing:

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You will be directed to the following screen:

Eligibility Requirements for the Cooperative / Condominium Property Tax Abatement

The following properties are NOT eligible for the cooperative/condominium property tax abatement:

Co-op or condo developments receiving any of the following exemptions are ineligible for the coop/condo abatement:

?

J-51 exemption

?

421A, 420C, 421B, and 421G exemptions

?

Housing Development Fund Corporation (HDFC)

?

Limited Divided Housing Companies

?

Redevelopment Company

?

Mitchell-Lama Building

?

Division of Alternative Management Programs (DAMP)

?

Urban Development Action Area Program (UDAAP)

Units owned by the following identifies are ineligible for the coop/condo abatement:

?

Limited Liability companies (LLC's)

?

Limited Partnerships

?

Sponsor units (owned by the development)

Units used primarily for the following purposes are ineligible for the coop/condo abatement:

?

Commercial units

?

Parking units

?

Storage / Bin units

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? Units owned by a trust are eligible only if the unit is the primary residence of the trustee or beneficiary of the trust.

? The owner as of January 5th must have resided on the property to qualify for the abatement ? Property must be classified as a Class 2 property. ? Coop or condo owners cannot own more than three residential units in any one development and one of

the units must be the owner's primary residence.

After the account has been created you are now ready to log in. After you log in, you will then be directed to enter the property's information.

1. Select the Type of Property (Cooperative Development or Condo Development) you are filing for.

2. Tax Year will be populated to current filing 3. Select the Borough 4. Enter the Coop or Condo Number*

*You can locate your Coop / Condo Number* on your Benefit Breakdown Report. See sample in the Appendix.

Please select the type of property you are filing for: User ID =

COOPERATIVE

Tax Year:

Borough: Co-op Number:

(as listed on the Co-op Tax Benefits Letter)

CONDOMINIUM

2017/18 MANHATTAN 279

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